A boutique bed & breakfast hotel on the Isle of Wight has new owners after being sold off a £825,000 guide price
The Fernbank, an AA 4* Gold Bed & Breakfast award winning hotel overlooking the thatched rooftops of the picturesque Old Village area of Shanklin, was sold for an undisclosed price by the Hotels Agency team at commercial property specialist Colliers.
The 17-ensuite letting bedroom property is now being operated by Liz and Graham Green. Before they purchased The Fernbank Liz, a qualified surveyor and construction manager, ran a mixed residential and commercial estate in Gibraltar, and Graham worked as a highly skilled and experienced maintenance technician.
Liz said: “We have some previous catering and hospitality experience, but nevertheless we’re extremely grateful to the previous owners for giving us such a such a terrific handover. We’ve hit the ground and are delighted to be running this busy little hotel.
“The Fernbank is a lovely place, in a super location, with a superb indoor heated pool to compliment the attractive landscaped sub-tropical gardens.
“This year, we hope to follow in the footsteps of the previous owners and keep to the same set up. However, we’ve already had a number of enquiries regarding room only options, self-catering, and the possibility of continental breakfast being served in bedrooms, and we are considering all of these for next year.”
Ed Jefferson, from the Hotels Agency team at Colliers, said: “At a time when people are opting for staycations instead of travelling abroad, The Fernbank epitomises the best of holidaying in the UK with its combination of quality and location.
“The previous owners carried out a substantial refurbishment after they bought the business a decade ago, and Liz and Graham now have the opportunity to further develop the business and enable more holidaymakers to experience the pleasures of this unique and delightful boutique B&B hotel.”
